PJM demand down… AGAIN
August 17th, 2009
From WSJ article below, the chart says it all…
Another great Wall Street Journal article came out, again noting that demand is DOWN, DOWN, DOWN. This is pretty important given the massive infrastructure rush by the utilities. It’s showing what we’ve known all along, the 800 lb. gorilla in the corner that could/should stop any new infrastructure buildout.
Rebecca Smith, Wall Street Journal, wrote this piece, published last week:
Here’s the PJM Report it’s based on:
There are some choice snippets in the WSJ article, such as:
On Friday, the nation’s largest wholesale power market serving parts of
13 states east of the Rockies is expected to report that electricity
demand fell 4.4% in the first half of the year. That helped to push
down spot market prices by 40% during the first half of this year.
… and…
The price declines in this market, which extends from Delaware to
Michigan, come on top of a 2.7% drop in energy use in 2008 over 2007.
… and…
Power demand in Texas is down 3.2% so far this year due to business
contraction and reductions in employment which are causing many
households to economize.
… and …
But the flagging economy has resulted in a slump in demand that has jolted some energy markets. American Electric Power Co. and Southern Co., for example, both reported double-digit drops in industrial electricity use for the past quarter.
… and…
“There’s more supply than demand and prices are really low so it
doesn’t make sense to build anything,” says John Shelk, president of
the Electric Power Supply Association in Washington, D.C., a group that
represents power generators.
Once more with feeling… SUSQUEHANNA-ROSELAND TRANSMISSION IS NOT NEEDED!
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